Vodafone Idea appoints Ravinder Takkar as new chairman

The Board of Directors of Vodafone Idea Limited on Wednesday decided to elevate its Managing Director and Chief Executive Officer Ravinder Takkar to the position of chairman effective from August 19.

The Board of Directors of Vodafone Idea Limited on Wednesday decided to elevate its Managing Director and Chief Executive Officer Ravinder Takkar to the position of chairman effective from August 19. The board unanimously elected Ravinder Takkar, as Chairman of Vodafone Idea Limited Board, effective 19th August 2022, Vodafone Idea said in a statement.

Ravinder Takkar currently MD and CEO of VIL, will bring in his vast experience of over three decades in guiding the company, in his role as Chairman, it said. Takkar's appointment came after its current chairman Himanshu Kapania decided to step down.

The Board of Directors accepted the request of Himanshu Kapania, to step down as Non-executive Chairman of the Board, with effect from 18th August 2022. He will continue on the Board of Vodafone Idea Limited as Non-Executive Director, the company said. "The Board recorded appreciation of Himanshu Kapania's contribution over the last year, during which time the company has made significant moves in the market," it added.

Vodafone Idea's net loss marginally narrowed to Rs 7,297 crore for the quarter ended June 30, 2022 as compared to a net loss of Rs 7,319 crore recorded in the corresponding period of the last year. The company's revenue from operations rose 14 per cent to Rs 10,410 crore in the first quarter of the current financial year as against Rs 9,152 crore recorded in the corresponding period of the last year.

During the first quarter of the current financial year, Vodafone Idea's average revenue per user (ARPU) rose to Rs 128 as compared to Rs 104 recorded in the first quarter of 2021-22, registering a year-on-year growth of 23.4 per cent. This is mainly because of tariff hikes. (ANI)

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